Senate Sponsors: PHILIP-SULLIVAN. House Sponsors: DART-LYONS,JOSEPH-BLACK-FRANKS-HOFFMAN Short description: PROP TX-FRATERNAL ORGS Synopsis of Bill as introduced: Amends the Property Tax Code. Provides that, for the taxable year 2002 and thereafter, the assessed value of real property owned and used by certain fraternal organizations, or their subordinate organizations or entities, that are exempt entities under Section 501(c)(8) of the Internal Revenue Code and whose members provide support for charitable works shall be established by the chief county assessment officer at 15% of the final assessed value of the property for the assessment year 2001, or if the property meets the qualifications for the reduced assessment after assessment year 2002, the final assessed value shall be 15% of the final assessed value of the property for the assessment year in which the property first meets the qualifications. Effective January 1, 2002. SENATE AMENDMENT NO. 1. Deletes reference to: 35 ILCS 200/Act. 10, Div. 13 heading new 35 ILCS 200/10-351 new Adds reference to: 35 ILCS 200/10-355 new Replaces the title and everything after the enacting clause. Reinserts the contents of the bill as introduced. Provides that only fraternal organizations that had their national headquarters in Illinois on December 31, 1926 may qualify for the property tax valuation. Effective January 1, 2002. HOUSE AMENDMENT NO. 1. Provides that the reduction in assessment also applies to a fraternal organization, or its subordinate organization or entity, that was chartered in Illinois in July of 1896 if it meets the other criteria for an assessment reduction. Last action on Bill: PUBLIC ACT.............................. 92-0388 Last action date: AUG-16-2001 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1 END OF INQUIRY Full Text Bill Status